Pharming Group (NASDAQ:PHAR) Shares Gap Down – Time to Sell?

Pharming Group (NASDAQ:PHAR) gapped down before the market opened on Thursday . The stock had previously closed at $8.96, but opened at $8.38. Pharming Group shares last traded at $8.38, with a volume of 364 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Pharming Group in a report on Thursday.

Pharming Group Stock Performance

The company has a market cap of $590.12 million, a PE ratio of -45.79 and a beta of 0.15. The stock’s 50 day simple moving average is $8.05 and its two-hundred day simple moving average is $8.55. The company has a quick ratio of 2.65, a current ratio of 3.39 and a debt-to-equity ratio of 0.40.

Pharming Group (NASDAQ:PHAR) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter. Pharming Group had a negative return on equity of 5.69% and a negative net margin of 4.65%. The firm had revenue of $74.09 million during the quarter, compared to analysts’ expectations of $71.95 million. During the same period last year, the business posted $0.02 earnings per share. As a group, research analysts anticipate that Pharming Group will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Pharming Group stock. Silverberg Bernstein Capital Management LLC boosted its stake in Pharming Group (NASDAQ:PHAR) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,435 shares of the company’s stock after acquiring an additional 5,725 shares during the quarter. Silverberg Bernstein Capital Management LLC’s holdings in Pharming Group were worth $196,000 at the end of the most recent reporting period. 0.03% of the stock is currently owned by institutional investors.

About Pharming Group

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.